Monday, March 29 2010 16:52

Anelik Bank and CreditBank launch project of business co-financing


ArmInfo. Anelik Bank jointly with its majority shareholder, the Lebanese CreditBank, has launched a business co-financing project, says Director General of CreditBank Rudolph Atallah in an interview with ArmInfo.

"We have recently studied the first project in Yerevan and collected the necessary documentation. If approved in Lebanon, the project will be funded. Decisions on the provisions for loans will be made quite easier in future when up-to-date IT systems are introduced. We will not set any limits on the loan size and will estimate, on case-by-case basis, every project. In addition, CreditBank and Anelik Bank share risks equally," Mr. Atallah says.

Earlier in the middle of 2009 CreditBank acquired a 51pct stake in Anelik Bank. As of Jan 1 2010 the credit portfolio of Anelik Bank totaled 25,3 billion drams ($67 million).
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